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The Otto Wichterle Award is an honour given by the Academy of Sciences of the Czech Republic to stimulate and encourage selected, exceptionally outstanding, promising young scientists at the Academy of Sciences of the Czech Republic for their remarkable contributions to the advancement of scientific knowledge in a given area of science. Nominees with scientific degrees (CSc., Dr., Ph.D., DrSc.) are eligible provided that they are not older than 35 in the calendar year when the nominations are submitted.

Nominations of candidates for the Award are submitted by directors of research institutes of the ASCR after consultation with the Scientific Councils of these institutes. Nominations are sent to the secretariat of the Academy Council of the ASCR, Academy Head Office, Národní 3, 117 20 Prague1 by 31 March of the calendar year. Submitted nominations are reviewed by a Jury composed of the highest ranking Academy officials which submits its choice to the Academy Council of the ASCR which makes the final decision.